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You are trying to plan for retirement in 20 years and currently you have $50,000 in...

You are trying to plan for retirement in 20 years and currently you have $50,000 in a savings account and $80,000 in stocks. In addition, you plan to add to your savings by depositing $10,000 per year in your savings account at the end of each of the next 20 years, until retirement. Assume that your savings account returns 5% compounded annually and your investment in stocks will return 10% compounded annually, how much do you have at the end of 20 years? (Ignore taxes)

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Answer #1

1 Savings 2 Annual depostit 3 Period 4 Rate of return 50000 10000 20 5% 463324.43 7 Stocks 8 Period 9 Rate of return 10 FV 801 Savings 2 Annual depostit 3 Period 4 Rate of return 50000 10000 20 0.05 -FV(B4,B3,-B2,-B1) 7 Stocks 8 Period 9 Rate of return 10 FV 80000 20 0.1 -B7*(1+B9)AB8 -SUM(B10, B5) 12 FV 13 16

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